THE NATIONAL CHAMBER OF COMMERCE
PRINCIPLES OF AMERICAN ENTERPRISE
This Chamber believes that the relation of government toward
industry and commerce is primarily that of preserving equality of
opportunity for all—and equal chance to every citizen to win his
position in accordance with his character, ability and efforts. Indi-
vidual initiative, strengthened by education, safeguarded by pub-
licity, stimulated by active and free competition, is the guarantee
of sound national progress. Laws and administrative acts should
touch business enterprise with great care and only to preserve a fair
field to all.
A wholesome standard of living is essential to general content-
ment. That standard depends upon the intelligence, work, and
thrift of the individual citizen and improves as the total production
of the country increases. Hence, restriction of production or
obstruction to distribution must necessarily undermine that stand-
ard, resulting in injury to all citizens of every class. We therefore
condemn avoidable strikes, lockouts, and all combinations that
needlessly limit output or curtail distribution, on the part of workers,
owners, or managers of industry.
The foundation of all enterprise is primarily that of service to
the community, and this service is most effective under private
initiative. The community’s valuation of that service, and its
reward for it, are most fairly expressed when secured by individual
initiative, under conditions of free competition. The value of and
the reward for such service cannot be safely apportioned by the
arbitrary decisions of government agencies. (Resolution, Ninth
Annual Meeting, 1921.)
(GOVERNMENT SERVICE TO BUSINESS
Events during the past eighteen months have made clear to the
American business men the vital importance of accurate economic
facts. The lack of correct and comprehensive data on the funda-
mentals of production, of stocks of raw material and fabricated
goods, and of the facilities of distribution, contributed substantially
toward the painful financial losses of the still continuing period of
business depression. These losses have adversely affected not only
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